Luxury department store Neiman Marcus has just ventured into the vintage watch game.
In a partnership with startup Crown & Caliber, Neiman Marcus will be selling vintage and pre-owned luxury watches in select locations and online. Consumers will be able to purchase an assortment of top-quality pre-owned watches such as Rolex, IWC, Patek Philippe and others. In addition, the selections of brands will alternate, featuring different luxury brands on a consistent basis.
The partnership with three-year-old Crown & Caliber allows Neiman Marcus the ability to provide consignment services to shoppers. In select stores, consumers can trade in their luxury watches for Neiman Marcus store credit. This service also provides the luxury department store an opportunity to be even more digitally savvy. Sales associates are provided with an iPad and with a personalized app, employees take a photo of the timepiece and send details of the shopper’s watch to its partner Crown & Caliber for an expedited appraisal. An offer is then sent back to the employee. If the customer is pleased with the offer and accepts it, he or she can trade in his or her watch for a gift card.
In a statement, Ginger Reeder, vice president of corporate communications at Neiman Marcus Group Services, Dallas said, “It allows us to have access to brands, because they are second hand, that we have not had access to before. Each piece has been inspected/reconditioned and comes with a one-year warranty backed by Crown & Caliber and Neiman Marcus.”
Crown & Caliber, which was founded in 2012 by Hamilton Powell, is well-versed in broking sales between buyers and sellers of pre-owned luxury timepieces. Under the Crown & Caliber consignment program, your watch undergoes a five-point preparation service (cleaning, accuracy calibration, lubrication, and pressure testing). Unlike other consignment companies, Crown & Caliber will return consignors’ timepieces if the item is not sold in the agreed time.
The Atlanta-based consignment company also released a statement discussing this new partnership.
Powell said, “Crown & Caliber decided to partner with Neiman Marcus for this Certified Pre-Owned program because both companies pride themselves on providing their customers with an experience that is unparalleled in both quality and customer service.”
If you’re tired of your Rolex, Audemars Piguet, Jaeger-LeCoultre or any other luxury timepiece, utilize Neiman Marcus’ new consignment program.
The consignment services are currently ONLY available at the Atlanta and Newport Beach, Ca. locations. However, shoppers can utilize the program via the Internet as well.
(Photo via Neiman Marcus)